Credit/Private Debt
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.
The foundation added an undisclosed commitment to a manager’s second private credit impact investment fund, which targets senior secured loans.
The foundation made a direct lending commitment with a new manager within its endowment in the third quarter.
The firm’s second credit fund closes with more than $325 million in commitments across the fund and its co-investment vehicles.
The plan is searching for a firm to provide private equity and private credit consulting services.
The retirement fund recently disclosed $60 million in total commitments across private credit and private equity.
The plan has concluded a private credit manager search that began last summer.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
The firm recently held the final close of its latest private credit fund, marking its largest private credit vehicle to date.
The retirement fund received three proposals in response to an RFP issued in May 2024.